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Chris Coons on Budget & Economy

 

 


TARP lending and SBA loans are positive & concrete steps

O'DONNELL: The best thing the government can do to get our economy back on real economic recovery is to get out of the way of the small business owner and get out of the way of the entrepreneur. And the way you do that is to make sure these tax hikes don't come in January. You begin to roll back some of the regulation that's forced them to close their doors.

COONS: I'm not sure I understand what Ms. O'Donnell means that her primary objective would be to end the endless regulation and red tape. She denounces the Obama administration, says it's done nothing to promote job growth when frankly, just a few weeks ago, a new bill that would provide expanded SBA loan capacity, $30 billion worth of new lending capability, TARP funds that have been repaid, and are being repurchased towards small and midsized banks all over the United States. Real and concrete steps are being taken.

Source: CNN's Wolf Blitzer moderating 2010 Delaware Senate debate , Oct 13, 2010

My county was one of only 30 earning Triple-A bond rating

Q: As County Executive, you raised property taxes 3 times, 25% hike last year. You proposed new taxes on hotels, paramedic services, even 911 calls from cell phones. Is that true?

COONS: No. It's not true that we proposed a tax on the calls to the 911 center. Today, New Castle County has a surplus. When I became executive in '05, it had a deficit. I have worked hard over six years to defend a very significant reserve, which has made it possible for us to continue to have a Triple-A bond rating. Out of roughly 3,000 counties in America, roughly 30 have a Triple-A bond rating, and I reached a bipartisan solution that cut more in spending than was raised in taxes.

O'DONNELL: You've been criticized for saying that you brought the county to Triple A bond rating. You inherited that good rating.

COONS: Each time you go to the bond market, you are re-rated. Moody's said that it was because of the conservative fiscal policies of my administration that we have re-earned a Triple A bond rating.

Source: CNN's Wolf Blitzer moderating 2010 Delaware Senate debate , Oct 13, 2010

Bailout was done too fast and put billions at risk

O'Donnell repeatedly emphasized her concerns over the growth of government and stressed "private-sector solutions" on a range of questions.

The Democrat pitched himself as independent of his party in Washington, saying, "I would not have supported the bailout," because he said it was done too fast and "put hundreds of billions of taxpayer dollars at risk."

Source: The Hill coverage of 2010 Delaware Senate debate , Sep 16, 2010

Supports the stimulus bill.

Coons supports the F2A survey question on the economic stimulus

Faith2Action.org is "the nation's largest network of pro-family groups." They provide election resources for each state, including Voter Guides and Congressional Scorecards excerpted here. The Faith2Action survey summarizes candidate stances on the following topic: 'American Recovery and Reinvestment Act of 2009 (the stimulus bill) '

Source: Faith2Action Survey 10-FF-q11 on Sep 19, 2010

Voted YES on $900 billion COVID relief package.

Coons voted YEA Consolidated Appropriations Act (COVID Relief bill)

NPR summary of HR133:

Argument in opposition: Rep. Alex Mooney (R-WV-2) said after voting against H.R. 133: "Congress voted to spend another $2.3 trillion [$900 billion for COVID relief], which will grow our national debt to about $29 trillion. The federal government will again have to borrow money from nations like China. This massive debt is being passed on to our children and grandchildren. With multiple vaccines on the way thanks to President Trump and Operation Warp Speed, we do not need to pile on so much additional debt. Now is the time to safely reopen our schools and our economy. HR133 was another 5593-page bill put together behind closed doors and released moments prior to the vote."

Legislative outcome: Passed House 327-85-18, Roll #250, on Dec. 21. 2020; Passed Senate 92-6-2, Roll #289, on Dec. 21; signed by President Trump on Dec 27 [after asking for an increase from $600 to $2,000 per person, which was introduced as a separate vote].

Source: Congressional vote 20-HR133 on Jan 15, 2020

$1.9 trillion ARPA bill for COVID relief.

Coons voted YEA American Rescue Plan Act

This bill provides additional relief to address the continued impact of COVID-19 on the economy, public health, state and local governments, individuals, and businesses:

Rep. Kevin McCarthy in OPPOSITION (3/11/21): The so-called American Rescue Plan imposed a $1.9 trillion new burden on American families. Despite being branded as 'COVID relief,' only 9% of funds in this bill actually goes to defeating the virus, and almost half of the money, including more than 95% of the education funds, will not be spent until 2022 or later. After a year of struggle and sacrifice, students and parents get no answer to the vital question of when they can expect schools to reopen full time. President Biden wants Americans to believe 'help is on the way.' But under this bill, it isn't; waste is.

Biden Administration in SUPPORT (2/26/21): ARPA provides the tools and support critical to tackle the urgent public health and economic crises the Nation faces as a result of COVID-19. The bill also provides eligible Americans with a $1,400 payment in addition to the $600 payment provided in December of 2020. The bill also extends key emergency unemployment benefits, and raises the minimum wage to $15 per hour.

Legislative Outcome: Passed House 219-212-1 on 2/27/21; passed Senate 50-49-1 on 3/6/21; signed by President on 3/11/21.

Source: Congressional vote 21-HR1319 on Feb 27, 2021

Other candidates on Budget & Economy: Chris Coons on other issues:
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Page last updated: Jan 11, 2022